The personal care products company is preparing to make an important announcement…
The post Why is the BWX share price halted on Friday? appeared first on The Motley Fool Australia. –
The BWX Ltd (ASX: BWX) share price wonât be going anywhere today.
This comes after the company requested its shares be placed in aÂ trading haltÂ before market open.
For now, shares in the personal care products company are frozen at $1.17 apiece.
Itâs worth noting that BWX shares hit an all-time low of $1.08 last week despite posting a small rebound recently.
Why is the BWX share price halted?
Prior to the opening bell, the company requested the BWX share price be halted while it prepares an announcement.
According to the release, the company is planning to make a statement relating to a trading update.
BWX has requested that the trading halt remains in place until Tuesday 28 June or when the announcement is made, whichever comes first.
More on the trading halt
While no further details have been given by BWX, The Australian shed more light on what could be ahead for the company.
According to theÂ publication, BWX is preparing to notify the ASX of a profit downgrade along with a potential capital raise.
The news comes a week after Tattarang Ventures made a strategic investment in BWX and now holds a 17% stake.
Owned by the Forrest family, namely Andrew âTwiggyâ Forrest, Tattarang holds an extensive investment portfolio. This includes sectors across agri-food, energy, resources, property, lifestyle, and health tech.
BWX share price snapshot
Since this time last year, BWX shares have continued to come under severe selling pressure from investors, down 78%.
In 2022, the companyâs shares have fallen 73%.
Based on valuation grounds, BWX presides a market capitalisation of approximately $191.25 million.
Before you consider Bwx Limited, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bwx Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
See The 5 Stocks
*Returns as of January 13th 2022
setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BWX Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.